Common use of Total Net Leverage Ratio Clause in Contracts

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio, as of the last day of each fiscal quarter (commencing with the fiscal quarter ending December 31, 2021), to be greater than the levels set forth in the following table for the applicable fiscal quarter: Fiscal QuarterTotal Net Leverage Ratio Fiscal quarters ending December 31, 2021 through and including June 30, 2022 3.25 to 1.00 Fiscal quarters ending September 30, 2022 and December 31, 2022 3.00 to 1.00 Fiscal quarter ending March 31, 2023 2.75 to 1.00 Each fiscal quarter thereafter 2.50 to 1.00 ​

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio, Ratio as of the last day end of each fiscal quarter (commencing with any Fiscal Quarter set forth below to exceed the fiscal quarter ending level set forth opposite such Fiscal Quarter in the table below: Fiscal Quarter Ending Maximum Ratio Prior to and including March 31, 2017 3.50 to 1.00 June 30, 2017 N/A September 30, 2017 6.50 to 1.00 December 31, 2021)2017 6.50 to 1.00 March 31, 2018 5.50 to be greater than the levels set forth in the following table for the applicable fiscal quarter: Fiscal QuarterTotal Net Leverage Ratio Fiscal quarters ending 1.00 June 30, 2018 4.50 to 1.00 September 30, 2018 4.25 to 1.00 December 31, 2021 through and including June 30, 2022 3.25 2018 4.00 to 1.00 Fiscal quarters ending September 30, 2022 and December 31, 2022 3.00 to 1.00 Fiscal quarter ending March 31, 2023 2.75 2019 and thereafter 3.50 to 1.00 Each fiscal quarter thereafter 2.50 to 1.00 ​1.00

Total Net Leverage Ratio. The Borrower will Company shall not permit the Total Net Leverage Ratio, Ratio as of the last day of each fiscal quarter (commencing with the fiscal quarter ending December 31, 2021), to be greater than the levels any date set forth in below to exceed the following table for the applicable ratio set forth opposite such fiscal quarter: Fiscal QuarterTotal Quarter Total Net Leverage Ratio Fiscal quarters ending June 30, 2016 3.00 to 1.00 September 30, 2016 3.00 to 1.00 December 31, 2021 through and including 2016 3.00 to 1.00 March 31, 2017 3.00 to 1.00 June 30, 2022 3.25 2017 2.75 to 1.00 Fiscal quarters ending September 30, 2022 and 2017 2.75 to 1.00 December 31, 2022 3.00 2017 2.75 to 1.00 Fiscal quarter ending March 31, 2023 2018 2.75 to 1.00 Each fiscal quarter thereafter 2.50 June 30, 2018 2.75 to 1.00 ​September 30, 2018 2.75 to 1.00 December 31, 2018 2.75 to 1.00

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio, as of the last day of each fiscal quarter (commencing with the fiscal quarter ending December 31, 2021), to be greater than the levels set forth in the following table for the applicable fiscal quarter: ​ Fiscal QuarterTotal Net Leverage Ratio Fiscal quarters ending December 31, 2021 through and including June 30, 2022 3.25 to 1.00 Fiscal quarters ending September 30, 2022 and December 31, 2022 3.00 to 1.00 Fiscal quarter ending March 31, 2023 2.75 to 1.00 Each fiscal quarter thereafter 2.50 to 1.00 ​

Total Net Leverage Ratio. The Borrower will not permit the Total Net Leverage Ratio, as of the last day of each fiscal quarter (commencing any Fiscal Quarter, beginning with the fiscal quarter Fiscal Quarter ending June 30, 2018, to exceed the correlative ratio set forth below: Fiscal Quarter Ending Total Net Leverage Ratio June 30, 2018 and September 30, 2018 5.75:1.00 December 31, 2021)2018 5.175:1.00 March 31, to be greater than the levels set forth in the following table for the applicable fiscal quarter: Fiscal QuarterTotal Net Leverage Ratio Fiscal quarters ending 2019 through December 31, 2021 2019 4.60:1.00 March 31, 2020 through and including June 30, 2022 3.25 to 1.00 Fiscal quarters ending September 30, 2022 and December 31, 2022 3.00 to 1.00 Fiscal quarter ending 2020 4.025:1.00 March 31, 2023 2.75 to 1.00 Each fiscal quarter 2021 and thereafter 2.50 to 1.00 ​3.45:1.00